Internet portal NetEase.com has reported a slight profit in the quarter to June 30 after booking revenue from interest on about US$64 million in cash and from previously disputed advertising income that had not been recognised earlier.
The company said its net profit was 38,000 yuan (about HK$35,800). Revenue was 38.5 million yuan, 61 per cent higher than the previous quarter and six times the 5.5 million yuan from the same quarter last year.
Non-advertising revenue was 30.3 million yuan, including paid services such as mobile short messaging, added electronic mail storage, personal homepages and online dating pages.
The higher revenues, including those from advertising, possibly reflect renewed market confidence in NetEase.
The company restated income from last year this spring and appointed new executives, helping to reverse a slide in its Nasdaq-listed shares.
In the latest quarter, NetEase declared a profit of one US cent per share.
Acting chief executive Ted Sun said the previously unrecognised 3.2 million yuan in fees came from several cases where advertisers disputed charges from as early as 2000.
